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11th Chapter

12th Principles of Banking Chapter 11 Test

Here you can prepare 12th Class Principles of Banking Chapter 11 Non-Negotiable Instruments Test. Click the button for 100% free full practice test.

12th class Principle of Banking chapter 11 online mcq test with answers for ICom part 2 Principle of Banking Chapter 11 (Non-Negotiable Instruments)

This online test contains MCQs about following topics:

. Banker's letters of credit . Money order . Postal order . I owe you(I.O.U) . Stock certificate

ICOM Part 2 Banking Ch 11 Test
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12th class Principle of Banking chapter 11 online mcq test with answers for ICom part 2 Principle of Banking Chapter 11 (Non-Negotiable Instruments)

Sr. # Questions Answers Choice
1 Which letter of credit is issued for a single or particular transaction:
  • A. Fixed
  • B. Revocable
  • C. Red clause
  • D. Green Clause
2 I Owe You is a written instrument drawn by
  • A. Trader
  • B. Debtor
  • C. Creditor
  • D. All the above
3 What does IOU mean
  • A. I am a debtor to you
  • B. I am a creditor to you
  • C. Both a and b
  • D. None of these
4 The important types of banker's letter of credit:
  • A. Two
  • B. Three
  • C. Four
  • D. None of these
5 Which of the following is useful in facilitating trade relation between the businessmen of different countries
  • A. Bank draft
  • B. Money order
  • C. Letter of credit
  • D. Stock certificate
6 Stock certificate is a document issued by
  • A. Commercial bank
  • B. Central bank
  • C. Limited companies
  • D. Stock-market
7 Which letter of credit is automatically renewed by fulfilling certain conditions
  • A. Fixed
  • B. Documentary
  • C. Confirmed
  • D. Revolving
8 Which one can be crossed :
  • A. Money order
  • B. Postal order
  • C. Credit card
  • D. All of the above
9 What does the bank receive on issuing a letter of credit:
  • A. Profit
  • B. Interest
  • C. Commission
  • D. Duty
10 The letter of credit which can be endorsed to another person is called:
  • A. Special L.C
  • B. Transferable L.C
  • C. Resolving L.C
  • D. None of the above

Top Scorers of Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test

H

Hassan Abid

Lahore22 - Jun - 2022

15/15
01 Mins 10 Sec
R

Ramla Akhlaq

Lahore18 - Jun - 2022

12/15
01 Mins 17 Sec
H

Hamza Abid

Abbottabad02 - Jun - 2022

12/15
10 Mins 50 Sec

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